Chap. 31.—An ACT to authorize the councils of the city of Norfolk to issue
bonds from time to time, not exceeding a total of $75,000 of principal,
predicated upon the assessed valuation of the property of Brambleton ward.

Approved January ll, 1900.

1. Be it enacted by the general assembly of Virginia, That in addition
to the powers now possessed by the councils of the city of Norfolk, the
said councils be, and they are hereby, empowered, upon the recommen-
dation of the local board of improvement of Brambleton ward of said
city, to issue and sell registered or coupon bonds from time to time:
provided, the total amount of said bonds issued under this act shall not
exceed the sum of seventy-five thousand dollars of principal. The said
bonds shall be predicated upon the assessed valuation of real and personal
property embraced in said Brambleton ward, and shall be payable at
such times, not to exceed thirty years from their dates, and at such rate
of interest payable semi-annually, not to exceed five per centum per
annum, as the said councils may deem expedient. The proceeds from
the sale of said bonds shall be set apart as a special fund for improve-
ments in said ward of a permanent character, to be appropriated by the
councils on the recommendation of the local board of improvement of
said ward. An account of bonds issued under this act shall be kept by
the board of sinking fund commissioners of the city, and also by the city
treasurer. The amount necessary to pay the interest on said bonds shall
be annually reserved by the city treasurer out of the tax levied for
general purposes from the said ward to pay the interest on said bonds
as it becomes due and payable. The said bonds shall not be subject
to any taxation by the city of Norfolk.
2. This act shall be in force from its passage.